President Bola Ahmed Tinubu has written to the National Assembly seeking an amendment to the 2022 supplementary appropriation Act to allow the Federal Government to source N500 billion for palliative to cushion the effect of subsidy removal.
POLITICS NIGERIA reports that the letter, which was read on the floor of the House during Wednesday’s plenary by Speaker Tajudeen Abbas, stated that the money would be sourced from the 2022 supplementary Appropriation Act of N819.5 billion.
The letter reads in part: “I write to request the approval of the House of Representatives an amendment of the 2022 appropriation act in accordance with the law. The request has become necessary in other to source for funds to provide necessary palliatives to cushion the effect of the recent removal of fuel subsidy in Nigeria.
“The sum of N500 billion only has been extracted from the 2022 appropriation act of N819.536 for the provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I expect that the House will speedily consider the request.”
Responding to the President’s letter, Speaker Abbas assured that the House would deliberate on the matter during Thursday’s plenary session and encouraged members to come prepared to contribute to the discussion.
The request for N500 billion in palliatives comes amid growing public anger over the recent removal of fuel subsidy. The removal of the subsidy has led to an increase in the price of petrol.
However, the government has defended itself, saying removing the subsidy is necessary to save money and attract investment.
Great move by Mr president